Take A Look Before Slagging
I've taken a good look at the first edition.
Regardless of your opinion of the Daily's content, the companies involved or the personalities - there is no doubt that this app is the first serious attempt to publish in a dedicated format suitable for a tablet instead of simply regurgitating the output of a newspaper. To do it properly you have to break the ingrained culture of newspaper publishing organisations that are all about getting tomorrow's print out. Easiest way to do that is to start a new organisation from scratch like they did.
I think they have done a good job too. The Daily is better than The Times app and will improve over time I'm sure. Seems like the way forward to me.
I hope some of the UK news organisations emulate this so we can have some better multi-media journalism on tablets over here and we can all choose our flavour just like with newspapers.